Agilent Technologies (NYSE:A) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Agilent Technologies (NYSE:A – Get Rating) issued its quarterly earnings results on Tuesday. The medical research company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01, Briefing.com reports. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Agilent Technologies had a net margin of 19.19% and a return on equity of 30.74%. Agilent Technologies’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 earnings per share. Agilent Technologies updated its Q3 guidance to $1.36-1.38 EPS and its FY23 guidance to $5.60-5.65 EPS.

Agilent Technologies Stock Performance

Shares of NYSE A traded down $1.02 during midday trading on Thursday, reaching $119.97. The company’s stock had a trading volume of 212,255 shares, compared to its average volume of 1,502,106. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.11 and a quick ratio of 1.53. The stock has a market capitalization of $35.48 billion, a P/E ratio of 26.65, a PEG ratio of 1.89 and a beta of 1.03. The firm has a 50 day moving average price of $133.87 and a 200-day moving average price of $144.11. Agilent Technologies has a 12-month low of $112.52 and a 12-month high of $160.26.

Agilent Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Monday, July 3rd will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, June 30th. Agilent Technologies’s payout ratio is currently 19.82%.

Wall Street Analysts Forecast Growth

A has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Agilent Technologies from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday. Robert W. Baird dropped their price objective on Agilent Technologies from $174.00 to $144.00 and set an “outperform” rating on the stock in a research note on Wednesday. SVB Securities lowered their target price on Agilent Technologies from $170.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday. Evercore ISI cut their price target on Agilent Technologies from $150.00 to $126.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Credit Suisse Group lowered their price objective on shares of Agilent Technologies from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $151.35.

Hedge Funds Weigh In On Agilent Technologies

Several institutional investors have recently added to or reduced their stakes in A. Money Concepts Capital Corp purchased a new stake in Agilent Technologies in the 4th quarter worth about $26,000. Ancora Advisors LLC bought a new position in Agilent Technologies in the 4th quarter worth approximately $34,000. Resurgent Financial Advisors LLC purchased a new position in Agilent Technologies in the 4th quarter valued at approximately $57,000. Altshuler Shaham Ltd raised its holdings in Agilent Technologies by 94.6% during the 4th quarter. Altshuler Shaham Ltd now owns 395 shares of the medical research company’s stock valued at $59,000 after acquiring an additional 192 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of Agilent Technologies during the first quarter worth $60,000.

Agilent Technologies Company Profile

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Agilent Technologies, Inc engages in the provision of application focused solutions for life sciences, diagnostics, and applied chemical markets. It operates through the following segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The Life Sciences and Applied Markets segment offers application-focused solutions that include instruments and software that identify, quantify, and analyze the physical and biological properties of substances and products, as well as the clinical and life sciences research areas to interrogate samples at the molecular and cellular level.